Entain, a major global player in the sports betting and gaming industry, kicked off 2025 with impressive growth.
In its Q1 trading update for the period ending March 31, the company reported a 9% year-on-year increase in Net Gaming Revenue (NGR), or 11% when adjusted for currency fluctuations.
Group NGR rose 9% (11% in constant currency)
Online NGR including the US was up 12%, or 15% in constant currency.
Online NGR excluding the US climbed 6% (10% in constant currency).
UK & Ireland Online posted a 23% increase (constant currency), exceeding forecasts.
Brazil reported a 31% increase, in line with expectations.
BetMGM, Entain’s US joint venture, saw NGR jump 34% and is expected to achieve positive EBITDA this year.
Entain’s online segment, including its 50% stake in BetMGM, was a key growth engine. BetMGM delivered standout performance with record iGaming revenues and a 68% surge in online sports NGR. The venture achieved $22 million in EBITDA for the quarter.
Stella David, who had been serving as interim CEO since February, was appointed permanently in April 2025. Her appointment brings stability as Entain continues to execute its strategy in a period of transition and regulatory scrutiny. She described the Q1 results as a clear signal of Entain’s strong positioning and strategic progress.
Stella David, CEO of Entain, commented:
We have made a strong start to 2025. Our improving operational execution saw us exit 2024 with clear momentum which has continued in Q1. Entain has a clear and compelling strategy with today’s results further evidence of its delivery. We are in the early stages of our journey of improvement and are driving ahead at pace.
Entain’s portfolio of podium positions in attractive and regulated growth markets underpins the structural growth embedded in our business. We are confident that our current momentum and underlying growth will deliver quality and sustainable earnings with a clear pathway to generating over £0.5 billion of annual cashflow in the medium term.
Looking ahead, Entain expects its online NGR to grow by mid-single digits (constant currency) for the full year. The company remains focused on delivering sustained value and staying on course with its long-term strategy.
